Tag archives: bank
It was a spectacular start to Yuletide when Montecito Bank & Trust held its 20th annual Community Dividends awards lunch, which normally divides $1 million among myriad local charities. But this year the Hilton event for 300 guests was one with a decided difference as the bank, founded by the late Michael Towbes, awarded a […]
Philanthropy and giving back to the community has been a part of the Montecito Bank & Trust ethos since opening on March 17, 1975. Over the years Montecito Bank & Trust (MBT) has grown from its simple beginnings into a much larger operation, with over 250 associates under its roof. MBT continues to give back […]
Montecito Bank & Trust reported that total assets grew $398.62 million, an increase of 20.41% during the 12-month period, to $2.35 billion for the year ending 12/31/2021. Strong deposit growth of $401.15 million or 23.15% year-over-year, pushed year-end deposit totals to $2.13 billion. Loan growth declined $143.4 million or 10.88% year-over-year due to Payroll Protection […]
American Riviera Bank announced earlier this week unaudited net income of $11,829,000 for the 12 months ending December 31, 2021. This represents a 60% increase in net income from the $7,378,000 earned in the same reporting period in the prior year. In 2021, the bank achieved an annualized return on average assets of 1.04% and […]
It was a very in-tents occasion when Montecito Bank & Trust erected a giant marquee in the rotunda at the Hilton for its 17th annual Community Dividends lunch when $1 million was given to 179 worthy organizations from the local community. The late Mike Towbes, founder of the bank, always described the event as his […]
Sometimes it takes a global pandemic to highlight the crucial role that community banks play in rescuing local businesses from the economic nightmare that comes with a year-long statewide shutdown. For American Riviera Bank (ARB), which opened in 2006 thanks to about 400 local shareholders who put up roughly $25 million in start-up cash, the […]
What – exactly – is a bank? A bank is a financial institution licensed to receive deposits, make loans, and attach ball point pens to countertops with little chains that are inevitably too short by about an inch. A bank, if it chooses, will also advise on managing your wealth, will exchange your greenbacks for […]
They call it the novel coronavirus. It will have existed for 142 days as of this publication. It’s called a “novel” virus because, while variations have existed before, this one is brand new. It’s unique in that it replicates quickly in asymptomatic people who are stealth carriers, then explodes in the population overwhelmingly, debilitating the […]
Santa Barbara Fiduciary – which is based in Montecito – recently marked 11 years in business. Owner Lindsay Leonard says the idea for starting the company arose from her experience helping her grandmother navigate Alzheimer’s; Leonard says she struggled to meet the demands of rapid changes in her grandmother’s health and needs, and wanted to […]
Farmers & Merchants Bank, founded in 1907 and headquartered in Long Beach, is certainly making inroads in our Eden by the Beach. A year and a half ago, the bank – run by Santa Barbara Polo Club players Dan and Henry Walker – opened a trust department on Santa Barbara Street, near the police headquarters, […]
American Riviera Bank has announced that Jason Kaufman has been promoted to the position of service manager at the bank’s Montecito branch. Kaufman has been with American Riviera Bank since October 2016. He previously served as the Client Relationship manager and as a Financial Services representative for the bank at the downtown Santa Barbara office. […]
